HONG KONG — The Qatar Financial Centre (QFC), one of the world’s leading and fastest growing onshore business and financial centre successfully concluded its Hong Kong roadshow today. Business leaders attended the event at the Harbour Grand to learn how they can capitalise on the emergent business opportunities in Qatar and the Gulf region.
The event came as part of QFC’s efforts to address the burgeoning trend of Hong Kong and Mainland Chinese companies growing their businesses in the Middle East. Qatar and Hong Kong are both situated in the One Belt, One Road region, which has helped strengthen ties, and bilateral trade between both countries stood at USD$150million in 2015.
Highlights at the roadshow included presentations from senior QFC representatives as well as case studies by Hong Kong companies that currently have operations in Qatar. These included China Hong Kong Economic Trading International Association, Silk Road Economic Development Research Centre, HKTDC, Culture Resources Development Co. Ltd and QUAM Securities. Participants also engaged in one-on-one consultation sessions with QFC’s leading experts, enabling them to gain a better understanding of the business landscape and advantages of operating businesses in Qatar.
As part of its ongoing collaboration with Qatar Tourism Authority (QTA), QFC representatives also invited attendees to explore the investment opportunities in Qatar’s tourism sector, and learn about the support provided to investors by QTA’s Tourism Investment Promotion Unit, which works to facilitate access among investors, local and international talent, and government authorities.
Yousuf Mohamed Al-Jaida, QFC Authority Chief Executive Officer, said: “Qatar’s relationship with Hong Kong has historically been very strong, and initiatives such as the One Belt, One Road initiative will help further improve our ties. Our QFC Asia Roadshow 2017 – Hong Kong is the ideal opportunity for Hong Kong investors and businesses to discuss investment opportunities in Qatar and get acquainted with the support we provide our firms to expand globally. Our discussions have been very productive and we are confident that they will positively contribute in further enhancing the relations between Qatar and Hong Kong.”
His Excellency Sultan Bin Ali Yousif Al-Khater, Counsul General of Qatar in Hong Kong, who was Guest of Honour at the event, added: “Qatar is home to one of the most stable and fastest growing economies in the world, offering many attractive opportunities for investors around the world. Hong Kong and Qatar have a historical friendly relationship and we are committed to continue working with our friends and partners in Hong Kong to continue to develop the Qatari economy and to strengthen the growing ties between the two regions. With the One Road, One Belt initiative and the upcoming 2022 FIFA World Cup picking up pace, I am confident that there will be many more opportunities for Hong Kong businesses in Qatar.”
David C.T. Chan, Chairman of China Hong Kong Economic Trading International Association, said: “Since the Chinese government advocated the ‘One Belt, One Road’ development initiative three years ago, investments made by Chinese companies in the countries along the ‘One Belt, One Road’ route have reached over US$50 billion. The many significant cooperative investment projects implemented have driven the economic development of these countries. In the coming five years, China’s total outbound investment is expected to reach US$750 billion and outbound travel will reach 700 million. This will present ample development opportunities for countries around the world. Today, economic globalisation has become a dominant trend. China wishes for peace and development, collaboration and mutually successful results. Hong Kong can serve well by being both a vital contact point and an important bridge between China and Qatar in respect of business activities and market development, facilitating the forging of closer economic and trade interactions between the two countries as well as investment and cooperation.”
QFC endeavours to promote Qatar as a lucrative destination for Hong Kong companies. Once a company submits its application, a dedicated relationship manager from QFC guides the company through the process of registering, obtaining a license, and setting up operations in Qatar. Companies also enjoy benefits such as operating businesses within a legal environment based on English common law, the right to trade in any currency, 100% foreign ownership, 100% repatriation of profits, 10% corporate tax on locally sourced profits, and an extensive double tax treaty agreement network with 60+ countries, including Hong Kong.
The QFC Asia Roadshow 2017 – Hong Kong is part of an initiative that seeks to strengthen the bilateral, economic, and commercial cooperation between the two countries and to explore opportunities for firms to expand in the Middle East through the QFC platform.
The Consul General of the State of Qatar in Hong Kong, members of the Qatar Financial Centre (QFC) Authority and key speakers from local associations take a group photo together at the QFC Asia Roadshow – Hong Kong.
(From left to right):
– Hamad El Baghdadi, International Events, Exhibitions and Sponsorships Manager, QFC Authority
– Mohamed Benbouadi, Head of Corporate Solutions, QFC Authority
– Jahon Burhonov, Head of Professional Services, QFC Authority
– Mohamed Al-Kuwari, Business Development Manager, QFC Authority
– Sadiq Hamour, Director of Business Development, QFC Authority
– His Excellency Sultan bin Ali Yousif Al-Kahater, Consul General of the State of Qatar in Hong Kong
– Yousef Fakhroo, Chief Marketing and Corporate Communication Officer, QFC Authority
– Mohamed Al-Hammadi, Business Development Manager, QFC Authority
– Peter Wong, President, Culture Resources Development Co. Ltd
– Liji Chen, Chairman, Silk Road Economic Development Research Centre
– Andrew Leung, Honorary President, China Hong Kong Economic Trading International Association
– David Chan, Chairman, China Hong Kong Economic Trading International Association
– Lewis Wan, Vice Chairman, China Hong Kong Economic Trading International Association